Loan Comparison: 3.45% vs 6.5%
4202 Florence, Evans, CO 80620 · 3bd/2ba · $519,900
List Price
$519,900
Assumable Rate
3.45%
Remaining Balance
$371,518
Equity Gap
$148,382
Loan Type
FHAAdjust Your Scenario
$25,995
$25,995$148,382
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.45% + gap loan
$2,599/moAssumed loan: $1,658/mo
Gap financing: $941/mo
$523less per month with the assumable
Your Savings on This Property
4202 Florence, Evans · 3.45% FHA vs 6.5% conventional
$523
per month
$6,274
per year
$188,221
over 30 years
$188,221
interest saved
How gap financing works: The equity gap ($148,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($122,387 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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